Summary
- •OKX has recently reopened PI withdrawals, triggering over 15.7 million tokens withdrawn within 24 hours — yet PI Network price continued to slip.
- •119.4 million PI tokens (worth over $31 million) are set to unlock in the next 30 days, adding potential sell pressure.
- •PI remains oversold near $0.26, with the immediate resistance at $0.2636 and a key support risk zone around $0.25.
After bleeding almost 20% on Sept. 22, leading to a loss of the $0.30-0.35 level, Pi Network (PI) has entered a period of sideways consolidation just above its new all‑time low. The daily chart shows PI price stabilizing around the $0.26 zone, with volatility compressing and volume tapering off following the capitulation‑like sell‑off.
The 7‑day SMA now acts as a dynamic resistance near $0.2636, effectively capping every minor bounce attempt. However, the good news is that RSI is deeply in the oversold territory, suggesting that a short‑term technical rebound could be on the horizon.
If bulls manage to push PI Network price above the 7‑day SMA, the next barrier sits around the $0.33‑0.35 mark, where previous support turned into resistance during the September breakdown. However, a sustained weakness below $0.25 risks extending the downtrend toward new lows.
Why is Pi Network price falling?
OKX has recently reopened PI withdrawals after a brief suspension. What followed was a massive outflow of over 15.7 million PI tokens within 24 hours. Large withdrawals typically signal long‑term accumulation, but in this case, Pi Network price actually slipped further. This may be because investors are anticipating further short‑term downside as the upcoming token unlock schedule threatens to flood the market with additional supply.
Over the next 30 days, approximately 119.4 million PI tokens — valued at more than $31 million — are scheduled to unlock, representing about 2.34% of the total locked supply, according to data from PiScan. The average daily unlock is around 3.98 million PI, with the largest single unlock of over 9.18 million PI expected on Oct. 11. Unless renewed demand or a major ecosystem catalyst absorbs the influx, this oversupply risk may keep Pi Network price subdued or push it toward fresh lows.
